Why have a Reverse Mortgage?
There are many reasons why reverse mortgages are rapidly growing in popularity in Canada.
NO INCOME QUALIFICATION NEEDED
Homeowners do not have to show specific income to qualify for a Reverse Mortgage making it one of the easiest ways to access the equity in your home.
FLEXIBLE PLAN OPTIONS
The product is set up to work for the homeowners. That is why there are many ways to structure it to ensure that it provides the most value.
TAX FREE MONEY ADVANCES
All funds received from a Reverse Mortgage are tax free and do not affect any government sponsored benefits.
NO REPAYMENTS NEEDED
Reverse Mortgages do not require the home owners to make any monthly payments or repayments of the outstanding balance.
f.a.q.
You have questions. wE have answers.
We are your local experts in setting up Reverse Mortgages and helping you Access your Home Equity.
A reverse mortgage is secured by the equity in your home. A reverse mortgage provides you with the funds and unlike a regular mortgage where you have to make continuous payments, with a properly set up reverse mortgage you do not have to make repayments until the property is sold.
Reverse Mortgages are the fastest growing product on the market due to the rising costs of living. The product also offers a lot of benefits for homeowners and their families, so it is important to get to know all possible ways how a reverse mortgage can bring value.
Reverse Mortgages are designed exclusively for homeowners age 55 and older.
You can receive up to 55% of the value of your home. A more specific amount can be calculated based on your age, the age of your spouse, the condition of the home, and its appraised value. Contact us today for a no obligation consultation to get more information on how much cash can you access through a Reverse Mortgage.
You receive the funds tax-free. The funds do not affect your taxable income and therefore do not affect Old Age Security (OAS) or Guaranteed Income Supplement benefits you may be already receiving.
Most Reverse Mortgages do not require repayments until the property is sold. Inquire with our team for more information and to ensure that your Reverse Mortgage is set up properly.